We use cookies to customise content for your subscription and for analytics.If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.

The severe weather that has battered Texas and Oklahoma over the last several days has been front page news nationwide. The unprecedented rainfall has created large-scale flooding and damage in the region. On Thursday, FEMA responded by issuing a memorandum extending the time to file a proof of loss for an additional 180 days.1

Typically, a flood insurance policyholder is required to file a proof of loss within 60 days of the flood. For the Texas and Oklahoma storms, a flood loss that occurred on May 15, 2015, would have put the deadline at July 15, 2015. The new deadline is January 11, 2016. It is important to note that the Proof of Loss is what we call a jurisdictional requirement, so a failure to file the document will forever bar the policyholder from seeking additional funds.

When filling out a proof of loss form, one of the trickiest areas is calculating the actual cash value of the covered property and contents. Take a look at this video we prepared about this exact issue:

Compare jurisdictions: Data Security & Cybercrime

“I make an effort to read at least several articles each day and regularly share the particularly relevant or interesting articles with my colleagues. I greatly appreciate the inclusion of the Lexology service by the State Bar of Texas and have recommended that my friends and colleagues join the Corporate Counsel Section of the State Bar in order to obtain this service for themselves.”